James Hendries

SEPTEMBER 27, 2022

Since 2000, the average increase in the 10-year yield during major moves higher is around 1.8%. It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio. All index data from FactSet.

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James Hendries

SEPTEMBER 20, 2022

Since 2000, the average increase in the 10-year yield has been around 1.8%. It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio. All index data from FactSet.

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ClearMoney

DECEMBER 14, 2021

Valuation theory helps us identify relevant factors by providing insights about differences in expected returns across stocks. 5Wes Crill, “Out of Bounds: Style Drift in the Russell 2000 Value Index,” Insights (blog), Dimensional Fund Advisors, June 2021. 1 (January 2016): 69–103. Dimensional Japan Ltd.,

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The Big Picture

AUGUST 20, 2024

And so in the 1990s, I developed the, the late 1980s, early 1990s, I developed a skillset around valuation, in particular discounted cash flow or residual income type models, along with a couple of peers out of the consulting industry. We were one of the last to get what’s called a value added license to the compus stat database.

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The Big Picture

OCTOBER 24, 2022

And there was just a very rich development period, which I think at the time, I don’t know, if I fully appreciate it, I’m someone who likes to see change licensing developments. And how do we think about them from a valuation perspective? And so, it required us, you know, a bit of patience over that stretch.

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The Big Picture

SEPTEMBER 5, 2023

And we’d sort of turn that into a valuation business. So before we get to the pandemic, which obviously had an enormous outsized effect on real estate, let’s talk a little bit about the financial crisis in the mid-2000s, a lot of real estate companies crashed and burned then. RITHOLTZ: Wow, that’s amazing.

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The Big Picture

NOVEMBER 25, 2024

Would you license these models to me? And I think that helped fuel the smart beta boom of the 2000 tens. 00:21:21 [Speaker Changed] So this story came out that, oh, value is defensive because it has this valuation buffer to it 00:21:28 [Speaker Changed] In that one example. Oh yeah, for sure. 00:14:40 [Speaker Changed] Yeah.

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The Big Picture

MAY 6, 2025

So private credit firms like ours, people invest in Hudson Bay and they know it’s not a bank account and that gives us license to deploy the money in ways that are appropriate. I hope we won’t go into a Hal 2000 type situation. So it’s 10 to one, 20 to one, whatever the precisely the leverage they’re using.

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The Big Picture

FEBRUARY 7, 2023

When we look at GE from ‘82 to 2000, under the Jack Welch reign, it began priced as a stodgy industrial and I have argued that he left this giant ticking time bomb of a 47 PE on an industrial, with a cratering capital business that had a ticking time bomb of an accounting fraud that SEC finds about to happen. times book. RITHOLTZ: Yeah.

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